Guardian Partners Inc. Takes $404,000 Position in Ameris Bancorp (NASDAQ:ABCB)

Guardian Partners Inc. acquired a new stake in shares of Ameris Bancorp (NASDAQ:ABCB) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 6,600 shares of the bank’s stock, valued at approximately $404,000.

A number of other hedge funds also recently made changes to their positions in ABCB. Picton Mahoney Asset Management increased its stake in shares of Ameris Bancorp by 2,436.8% in the fourth quarter. Picton Mahoney Asset Management now owns 482 shares of the bank’s stock worth $30,000 after buying an additional 463 shares during the last quarter. R Squared Ltd bought a new stake in shares of Ameris Bancorp in the fourth quarter worth $51,000. Blue Trust Inc. increased its stake in shares of Ameris Bancorp by 56.1% in the fourth quarter. Blue Trust Inc. now owns 1,113 shares of the bank’s stock worth $69,000 after buying an additional 400 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Ameris Bancorp by 17.9% in the fourth quarter. GAMMA Investing LLC now owns 1,332 shares of the bank’s stock worth $83,000 after buying an additional 202 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in shares of Ameris Bancorp by 167.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the bank’s stock worth $90,000 after buying an additional 896 shares during the last quarter. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Insider Activity

In other news, insider Douglas D. Strange purchased 1,000 shares of Ameris Bancorp stock in a transaction dated Wednesday, March 12th. The stock was bought at an average price of $56.95 per share, with a total value of $56,950.00. Following the completion of the acquisition, the insider now owns 19,403 shares in the company, valued at $1,105,000.85. The trade was a 5.43 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.50% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on ABCB shares. Keefe, Bruyette & Woods lifted their price target on shares of Ameris Bancorp from $70.00 to $80.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Raymond James reaffirmed an “outperform” rating and issued a $71.00 price objective (up previously from $67.00) on shares of Ameris Bancorp in a report on Monday, February 3rd. Finally, Stephens reaffirmed an “equal weight” rating and issued a $71.00 price objective on shares of Ameris Bancorp in a report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $70.50.

Ameris Bancorp Stock Performance

Ameris Bancorp stock opened at $57.69 on Monday. Ameris Bancorp has a 12 month low of $44.23 and a 12 month high of $74.56. The company has a market cap of $3.98 billion, a PE ratio of 11.07 and a beta of 1.02. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00. The company has a fifty day moving average price of $63.11 and a two-hundred day moving average price of $63.98.

Ameris Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Monday, March 31st. Ameris Bancorp’s dividend payout ratio (DPR) is 15.36%.

Ameris Bancorp Company Profile

Ameris Bancorp operates as the bank holding company for Ameris Bank that provides range of banking services to retail and commercial customers. It operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, SBA Division, and Premium Finance Division. The company offers commercial and retail checking, regular interest-bearing savings, money market, individual retirement, and certificates of deposit accounts.